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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Disclosures [Abstract] |
Fair values of financial assets and liabilities measured on a recurring basis | The following table presents assets and liabilities that are measured at fair value on a recurring basis as of the dates presented:
| Level 1 |  | Level 2 |  | Level 3 |  | Totals
December 31, 2018 |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |
Obligations of other U.S. Government agencies and corporations | $ | — |  |  | $ | 2,511 |  |  | $ | — |  |  | $ | 2,511 |
Obligations of states and political subdivisions | — |  |  | 203,269 |  |  | — |  |  | 203,269 |
Residential mortgage-backed securities: |  |  |  |  |  |  |
Government agency-mortgage backed securities | — |  |  | 613,283 |  |  | — |  |  | 613,283 |
Government agency collateralized mortgage obligations | — |  |  | 326,989 |  |  | — |  |  | 326,989 |
Commercial mortgage-backed securities: |  |  |  |  |  |  |
Government agency-mortgage backed securities | — |  |  | 21,830 |  |  | — |  |  | 21,830 |
Government agency collateralized mortgage obligations | — |  |  | 28,335 |  |  | — |  |  | 28,335 |
Trust preferred securities | — |  |  | — |  |  | 10,633 |  |  | 10,633 |
Other debt securities | — |  |  | 43,927 |  |  | — |  |  | 43,927 |
Total securities available for sale | — |  |  | 1,240,144 |  |  | 10,633 |  |  | 1,250,777 |
Derivative instruments: |  |  |  |  |  |  |
Interest rate contracts | — |  |  | 2,779 |  |  | — |  |  | 2,779 |
Interest rate lock commitments | — |  |  | 3,740 |  |  | — |  |  | 3,740 |
Forward commitments | — |  |  | — |  |  | — |  |  | — |
Total derivative instruments | — |  |  | 6,519 |  |  | — |  |  | 6,519 |
Mortgage loans held for sale in loans held for sale | — |  |  | 219,848 |  |  | — |  |  | 219,848 |
Total financial assets | $ | — |  |  | $ | 1,466,511 |  |  | $ | 10,633 |  |  | $ | 1,477,144 |
Financial liabilities: |  |  |  |  |  |  |
Derivative instruments: |  |  |  |  |  |  |
Interest rate swap | $ | — |  |  | $ | 2,046 |  |  | $ | — |  |  | $ | 2,046 |
Interest rate contracts | — |  |  | 2,779 |  |  | — |  |  | 2,779 |
Interest rate lock commitments | — |  |  | — |  |  | — |  |  | — |
Forward commitments | — |  |  | 3,563 |  |  | — |  |  | 3,563 |
Total derivative instruments | — |  |  | 8,388 |  |  | — |  |  | 8,388 |
Total financial liabilities | $ | — |  |  | $ | 8,388 |  |  | $ | — |  |  | $ | 8,388 |
| Level 1 |  | Level 2 |  | Level 3 |  | Totals
December 31, 2017 |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |
Obligations of other U.S. Government agencies and corporations | $ | — |  |  | $ | 3,564 |  |  | $ | — |  |  | $ | 3,564 |
Obligations of states and political subdivisions | — |  |  | 234,481 |  |  | — |  |  | 234,481 |
Residential mortgage-backed securities: |  |  |  |  |  |  |
Government agency mortgage-backed securities | — |  |  | 193,950 |  |  | — |  |  | 193,950 |
Government agency collateralized mortgage obligations | — |  |  | 176,639 |  |  | — |  |  | 176,639 |
Commercial mortgage-backed securities: |  |  |  |  |  |  |
Government agency-mortgage backed securities | — |  |  | 31,170 |  |  | — |  |  | 31,170 |
Government agency collateralized mortgage obligations | — |  |  | 5,006 |  |  | — |  |  | 5,006 |
Trust preferred securities | — |  |  | — |  |  | 9,388 |  |  | 9,388 |
Other debt securities | — |  |  | 17,290 |  |  | — |  |  | 17,290 |
Total securities available for sale | — |  |  | 662,100 |  |  | 9,388 |  |  | 671,488 |
Derivative instruments: |  |  |  |  |  |  |
Interest rate contracts | — |  |  | 3,171 |  |  | — |  |  | 3,171 |
Interest rate lock commitments | — |  |  | 2,756 |  |  | — |  |  | 2,756 |
Forward commitments | — |  |  | 50 |  |  | — |  |  | 50 |
Total derivative instruments | — |  |  | 5,977 |  |  | — |  |  | 5,977 |
Mortgage loans held for sale in loans held for sale | — |  |  | 108,316 |  |  | — |  |  | 108,316 |
Total financial assets | $ | — |  |  | $ | 776,393 |  |  | $ | 9,388 |  |  | $ | 785,781 |
Financial liabilities: |  |  |  |  |  |  |
Derivative instruments: |  |  |  |  |  |  |
Interest rate swap | $ | — |  |  | $ | 2,536 |  |  | $ | — |  |  | $ | 2,536 |
Interest rate contracts | — |  |  | 3,171 |  |  | — |  |  | 3,171 |
Interest rate lock commitments | — |  |  | 4 |  |  | — |  |  | 4 |
Forward commitments | — |  |  | 328 |  |  | — |  |  | 328 |
Total derivative instruments | — |  |  | 6,039 |  |  | — |  |  | 6,039 |
Total financial liabilities | $ | — |  |  | $ | 6,039 |  |  | $ | — |  |  | $ | 6,039 |
Reconciliation for assets and liabilities measured at fair value on a recurring basis | The following table provides for the periods presented a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs, or Level 3 inputs:
| Securities available for sale
| Trust preferred securities
Balance at January 1, 2017 | $ | 18,389 |
Realized (gains) losses included in net income, net of premium amortization | 25 |
Unrealized gains included in other comprehensive income | 2,364 |
Sales | (9,346 | )
Issues | — |
Settlements | (2,044 | )
Transfers into Level 3 | — |
Transfers out of Level 3 | — |
Balance at December 31, 2017 | $ | 9,388 |
Realized (gains) losses included in net income, net of premium amortization | 34 |
Unrealized gains included in other comprehensive income | 1,328 |
Sales | — |
Issues | — |
Settlements | (117 | )
Transfers into Level 3 | — |
Transfers out of Level 3 | — |
Balance at December 31, 2018 | $ | 10,633 |
Significant unobservable inputs (Level 3) used in valuation of assets and liabilities measured at fair value on recurring basis | The following table presents information as of December 31, 2018 about significant unobservable inputs (Level 3) used in the valuation of assets and liabilities measured at fair value on a recurring basis:
Financial instrument |  | Fair Value |  | Valuation Technique |  | Significant Unobservable Inputs |  | Range of Inputs
Trust preferred securities |  | $ | 10,633 |  |  | Discounted cash flows |  | Default rate |  | 0-100%
Impaired loans measured at fair value on a nonrecurring basis | Consolidated Balance Sheets at period end and the level within the fair value hierarchy each is classified:
| Level 1 |  | Level 2 |  | Level 3 |  | Totals
December 31, 2018 |  |  |  |  |  |  |
Impaired loans | $ | — |  |  | $ | — |  |  | $ | 21,686 |  |  | $ | 21,686 |
OREO | — |  |  | — |  |  | 4,319 |  |  | 4,319 |
Total | $ | — |  |  | $ | — |  |  | $ | 26,005 |  |  | $ | 26,005 |
| Level 1 |  | Level 2 |  | Level 3 |  | Totals
December 31, 2017 |  |  |  |  |  |  |
Impaired loans | $ | — |  |  | $ | — |  |  | $ | 19,365 |  |  | $ | 19,365 |
OREO | — |  |  | — |  |  | 7,392 |  |  | 7,392 |
Total | $ | — |  |  | $ | — |  |  | $ | 26,757 |  |  | $ | 26,757 |
OREO measured at fair value on a nonrecurring basis | The following table presents, as of the dates presented, OREO measured at fair value on a nonrecurring basis that was still held in the Consolidated Balance Sheets at period-end:
| December 31, 2018 |  | December 31, 2017
Carrying amount prior to remeasurement | $ | 5,258 |  |  | $ | 8,732 |
Impairment recognized in results of operations | (939 | ) |  | (1,340 | )
Fair value | $ | 4,319 |  |  | $ | 7,392 |
Significant unobservable inputs (Level 3) used in valuation of assets and liabilities measured at fair value on non recurring basis | The following table presents information as of December 31, 2018 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
Financial instrument |  | Fair Value |  | Valuation Technique |  | Significant Unobservable Inputs |  | Range of Inputs
Impaired loans |  | $ | 21,686 |  |  | Appraised value of collateral less estimated costs to sell |  | Estimated costs to sell |  | 4-10%
OREO |  | $ | 4,319 |  |  | Appraised value of property less estimated costs to sell |  | Estimated costs to sell |  | 4-10%
Summarizes differences between fair value and principal balance for mortgage loans held for sale measure at fair value | The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of December 31, 2018:
| Aggregate Fair Value |  | Aggregate Unpaid Principal Balance |  | Difference
Mortgage loans held for sale | $ | 219,848 |  |  | $ | 211,460 |  |  | $ | 8,388 |
Past due loans of 90 days or more | — |  |  | — |  |  | — |
Nonaccrual loans | — |  |  | — |  |  | — |
Assets and liabilities not measured and reported at fair value on a recurring basis or nonrecurring basis | The carrying amounts and estimated fair values of the Company’s financial instruments, including those assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis, were as follows as of the dates presented:
|  |  | Fair Value
| Carrying Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
December 31, 2018 |  |  |  |  |  |  |  |  |
Financial assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 569,111 |  |  | $ | 569,111 |  |  | $ | — |  |  | $ | — |  |  | $ | 569,111 |
Securities available for sale | 1,250,777 |  |  | — |  |  | 1,240,144 |  |  | 10,633 |  |  | 1,250,777 |
Loans held for sale | 411,427 |  |  | — |  |  | 219,848 |  |  | 191,579 |  |  | 411,427 |
Loans, net | 9,034,103 |  |  | — |  |  | — |  |  | 8,818,039 |  |  | 8,818,039 |
Mortgage servicing rights | 48,230 |  |  | — |  |  | — |  |  | 61,111 |  |  | 61,111 |
Derivative instruments | 6,519 |  |  | — |  |  | 6,519 |  |  | — |  |  | 6,519 |
Financial liabilities |  |  |  |  |  |  |  |  |
Deposits | $ | 10,128,557 |  |  | $ | 7,765,773 |  |  | $ | 2,337,334 |  |  | $ | — |  |  | $ | 10,103,107 |
Short-term borrowings | 387,706 |  |  | 387,706 |  |  | — |  |  | — |  |  | 387,706 |
Other long-term borrowings | 53 |  |  | 53 |  |  | — |  |  | — |  |  | 53 |
Federal Home Loan Bank advances | 6,690 |  |  | — |  |  | 6,751 |  |  | — |  |  | 6,751 |
Junior subordinated debentures | 109,636 |  |  | — |  |  | 109,766 |  |  | — |  |  | 109,766 |
Subordinated notes | 147,239 |  |  | — |  |  | 148,875 |  |  | — |  |  | 148,875 |
Derivative instruments | 8,388 |  |  | — |  |  | 8,388 |  |  | — |  |  | 8,388 |
|  |  | Fair Value
| Carrying Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
December 31, 2017 |  |  |  |  |  |  |  |  |
Financial assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 281,453 |  |  | $ | 281,453 |  |  | $ | — |  |  | $ | — |  |  | $ | 281,453 |
Securities available for sale | 671,488 |  |  | — |  |  | 662,100 |  |  | 9,388 |  |  | 671,488 |
Loans held for sale | 108,316 |  |  | — |  |  | 108,316 |  |  | — |  |  | 108,316 |
Loans, net | 7,574,111 |  |  | — |  |  | — |  |  | 7,514,185 |  |  | 7,514,185 |
Mortgage servicing rights | 39,339 |  |  | — |  |  | — |  |  | 47,868 |  |  | 47,868 |
Derivative instruments | 5,977 |  |  | — |  |  | 5,977 |  |  | — |  |  | 5,977 |
Financial liabilities |  |  |  |  |  |  |  |  |
Deposits | $ | 7,921,075 |  |  | $ | 6,114,391 |  |  | $ | 1,809,085 |  |  | $ | — |  |  | $ | 7,923,476 |
Short-term borrowings | 89,814 |  |  | 89,814 |  |  | — |  |  | — |  |  | 89,814 |
Other long-term borrowings | 98 |  |  | 98 |  |  | — |  |  | — |  |  | 98 |
Federal Home Loan Bank advances | 7,493 |  |  | — |  |  | 7,661 |  |  | — |  |  | 7,661 |
Junior subordinated debentures | 85,881 |  |  | — |  |  | 69,702 |  |  | — |  |  | 69,702 |
Subordinated notes | 114,074 |  |  | — |  |  | 118,650 |  |  | — |  |  | 118,650 |
Derivative instruments | 6,039 |  |  | — |  |  | 6,039 |  |  | — |  |  | 6,039 |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=99377789&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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